National + Industrial | May 24, 2021

Ares Management to Acquire Black Creek Group’s U.S. Business

A subsidiary of Ares Management Corporation has entered into a definitive agreement to acquire 100% of Black Creek Group’s U.S. real estate investment advisory and distribution business. Denver-based Black Creek had approximately $11.6 billion of assets under management as of March 31.

Although Black Creek operates across most of the major property types, Los Angeles-based Ares singled out the Black Creek team’s quarter-century track record in industrial. “Ares believes the approximately $2-trillion industrial real estate sector exhibits consistent fundamentals across diverse market cycles and is positioned to benefit from heightened institutional interest,” according to a release.

The acquisition will also transform Ares’ retail distribution capability and add Black Creek’s two non-traded REITs, Ares said.

Eastdil Secured acted as financial advisor to Ares and Latham & Watkins served as legal counsel. Hodes Weill & Associates acted as financial advisor to Black Creek and Simpson Thacher & Bartlett served as legal counsel.

Connect

Inside The Story

Ares ManagementBlack Creek Group

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints